(File Photo of a Gavel)

Noah Haswell, Beaver County Radio News

(Cranberry Township, PA) Pennsylvania Attorney General Dave Sunday announced a lawsuit on Thursday against two men from Western Pennsylvania after an alleged rent-to-own scheme. 

A news release identified Charles Spencer, of Cranberry Township, and Sean Walters, of Wexford, along with several affiliated businesses, as subjects of the lawsuit that sought restitution for consumers that were affected.

According to Attorney General Sunday, the two men agreed to take over mortgage payments on properties before “selling” the homes under land installment contracts to new buyers who were unaware the men did not actually own them. 

Sunday stated that the two men signed contracts to buy the homes by taking over mortgage payments, but then defaulted on the mortgages, which ruined the credit of the real owners and caused mortgage foreclosure and evictions against the buyers. 

Sunday also confirmed that the scheme targeted homeowners who were looking to sell homes quickly and first-time buyers who were not aware of red flags during purchase.

The news release noted that Sunday’s office requested an ex parte preliminary injunction that was granted by Allegheny County Common Pleas Court which requires the defendants to pay the mortgages of impacted sellers and homeowner association payments while halting both evictions and legal proceedings. 

The businesses that were named in the lawsuit include Alpha Realty Investment, LLC, CSW Financial, LLC, Marlin Holdings, LLC, NSX Property Group, LLC, RS Capital, LLC and W Group Holdings, LLC.

Consumers who have been impacted by this scheme, but have not yet been in contact with Attorney General Sunday’s office are asked to call the phone number of 1-800-441-2555.